Mense will be forced to readjust their monthly budgets alweer after the Reserve Bank hiked the repo rate once again, this time by 50 basis points.
SARB governor Lesetja Kganyago made the announcement on Thursday.
The rise means the repo rate will now go up to 8.25% and the prime lending rate to 11.75%.
Kganyago said: “Economic growth has been volatile and prospects for growth remain uncertain. An improvement in logistics and a sustained reduction in load shedding, or increased energy supply from alternative sources, would significantly raise growth. The rand has weakened over the past year, with further sharp depreciation in recent weeks.”
dailyvoice@inl.co.za